JPMorgan Chase, a major financial institution, predicts that the cryptocurrency market will begin to recover starting in August. This news comes as a beacon of hope for many investors who have seen the market take a downturn in recent months.
The crypto market has faced significant volatility in 2021, with prices of popular digital currencies like Bitcoin and Ethereum experiencing sharp declines. However, JPMorgan expects that the market will start to bounce back next month.
This prediction is based on various factors, including the increasing interest from institutional investors and the growing acceptance of cryptocurrencies in mainstream finance. JPMorgan believes that these developments will help boost the market and lead to a recovery in prices.
While it is important to note that the cryptocurrency market is inherently unpredictable, JPMorgan’s forecast provides some optimism for investors. As August approaches, many will be keeping a close eye on the market to see if this prediction comes to fruition.